Conversion Right Triggered on Hertz's Convertible Senior Notes

PARK RIDGE, N.J. - Jan. 2, 2013 // PRNewswire // - Hertz Global Holdings, Inc. (the "Company") (NYSE: HTZ) today announced that the Company's $474,733,000 aggregate principal amount outstanding of 5.25% Convertible Senior Notes Due 2014 (the "Notes") will continue to be convertible by holders of the Notes. This conversion right has been triggered because the Company's closing common stock price per share exceeded $10.77 for at least 20 trading days during the 30 consecutive trading day period ending on December 31, 2012. Based on this triggering event, the Notes will be convertible until March 31, 2013.

If conversion requests are received, the settlement of the Notes will be paid pursuant to the terms of the Indenture. The Company's policy has been, and continues to be, to settle conversions of the Notes using a combination of cash and shares of the Company's common stock, with the cash portion being paid with a fixed dollar amount equal to $1,000 per $1,000 in principal amount of the Notes (assuming the conversion value is at least equal to the principal amount of the Notes).

Wells Fargo Bank, National Association, is the Trustee for the holders of the Notes and Conversion Agent under the Indenture. All questions relating to the mechanics of the conversion for the Notes should be directed to Martin Reed at Wells Fargo Bank, National Association, telephone number 212.515.5244 and address 45 Broadway, 14th Floor, New York, NY 10006.

This press release is only a summary of certain provisions of the Notes and the Indenture, dated as of May 27, 2009 (the "Indenture"), by and between the Company and Wells Fargo Bank, National Association. A complete explanation of the conversion rights of holders of the Notes, as well as the procedures required to convert Notes, is set forth in the Indenture. All holders are urged to review the conversion provisions contained in the Notes and the Indenture in their entirety.

SOURCE Hertz Global Holdings, Inc.


Investor Relations:
Leslie Hunziker

Richard Broome


Social Reach:

Viewer Response:

comments powered by Disqus

Hertz »

Hertz Global Holdings is the largest worldwide airport general use car rental company.


  1. Business Overview
  2. Franchise News

Franchise News Room »

News By Industry »

Hot Opportunities

Nestle Toll House Cafe by Chip Franchise Opportunity

Nestle Toll House Cafe by Chip
Nestlé Toll House Café by Chip is the only major, national dessert café...

Batteries Plus Bulbs Franchise Opportunity

Batteries Plus Bulbs
Whether you're an existing multi-unit operator with a non-competing brand...

Kitchen Solvers Franchise Opportunity

Kitchen Solvers
As a Kitchen Solvers franchisee you will not need any prior remodeling or...

Taco Bueno Franchise Opportunity

Taco Bueno
At Taco Bueno, we continue to make Tex-Mex the right way. We prepare our...

Kids 'R' Kids Franchise Opportunity

Kids 'R' Kids
Kids 'R' Kids Learning Academies is a pioneer in the early childhood...

Jimmy's Egg Franchise Opportunity

Jimmy's Egg
Jimmy's Egg is now offering a unique opportunity to a select number of...

Earl of Sandwich Franchise Opportunity

Earl of Sandwich
Earl of Sandwich is a café franchise that was founded in 1762 by John...

Wireless Zone Franchise Opportunity

Wireless Zone
Almost 25 years ago an instantly successful business began called...

A Franchise Update Media Group Production
Franchise Update Media | P.O. Box 20547 // San Jose, CA 95160 // PH. (408) 402-5681
Copyright © 2001 - 2016. All Rights Reserved. Site Hosting Provided By: wishVPS on FUMG3

In Loving Memory Of Timothy Gardner (1987-2014)